COMMISSIONER OF INCOME TAX Vs. ARVIND MILLS LTD

JUDGEMENT

(1.) Revenue has filed this appeal challenging the judgment of the Income Tax Appellate Tribunal ('Tribunal' for short) dated 31st March, 2009. In response to the notice issued, learned counsel Mr. Ranjan appeared on behalf of respondent assessee.

(2.) Counsel for both the sides made detailed submissions. With their consent such arguments were treated to be for final disposal of the Appeal.

(3.) The appeal arises in the following factual background:--